Overnight Rate Clause Samples
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Overnight Rate. For any day, (a) as to Revolving Credit Loans denominated in Dollars, the weighted average interest rate paid by the Agent for federal funds acquired by the Agent, and (b) as to Revolving Credit Loans denominated in an Optional Currency, the rate of interest per annum at which overnight deposits in the applicable Optional Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Agent to major banks in the London interbank market.
Overnight Rate. For any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent or the applicable Issuing Bank, as the case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the applicable offshore interbank market for such currency to major banks in such interbank market.
Overnight Rate. For any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent or a Fronting Bank, as the case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, an overnight rate determined by the Administrative Agent or a Fronting Bank, as the case may be, in accordance with banking industry rules on interbank compensation.
Overnight Rate. For any day, (a) with respect to any amount denominated in Dollars, the greater of (i) the Federal Funds Effective Rate and (ii) an overnight rate determined by the Administrative Agent or the Issuing Bank, as the case may be, in accordance with banking industry rules on interbank compensation, and (b) with respect to any amount denominated in Canadian Dollars, Sterling or Euros, the rate of interest per annum at which overnight deposits in Canadian Dollars, Sterling or Euros, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of the Canadian Agent or the U.K. Agent, as applicable, in the applicable offshore interbank market for such currency to major banks in such interbank market.
Overnight Rate. The definition of "Overnight Rate" is added to read as follows:
Overnight Rate. In the case of any Interest Periods or Borrowing Periods in respect of which interest is payable at any Overnight Rate plus the applicable Margin and Mandatory Cost Rate (if any), then each Borrower shall pay interest on the Business Day falling two (2) Business Days after the end of the relevant Interest Period or Borrowing Period (as the case may be).
Overnight Rate. For any day (a) as to Loans and Letters of Credit denominated in U.S. Dollars, the Federal Funds Effective Rate, and (b) as to Loans denominated in Pounds Sterling or Euros and Letters of Credit denominated in Pounds Sterling, the rate of interest per annum at which overnight deposits in Pounds Sterling or Euros, as the case may be, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by the Agent (or an Affiliate of the Agent) to major banks in the London interbank market.
Overnight Rate. Such rate shall be set by the Swingline Lender in its sole discretion. Such rate shall change as of any particular Business Day if the Swingline Lender notifies Borrower of the rate change by 12:00 noon on such Business Day and, if not, on the following Business Day. A change in the Overnight Rate shall apply to amounts then outstanding under the Swingline Loan as well as to future advances.
Overnight Rate. For any day, (a) with respect to any amount denominated in Dollars, the Federal Funds Effective Rate, and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of KeyBank or other Alternative Currency Fronting Lender in the applicable offshore interbank market for such currency to major banks in such interbank market in accordance with banking industry rules or practices in such offshore interbank market. Parent Borrower. As defined in the preamble hereto. Participant Register. See §18.4. Participating Member State. Each state so described in any EMU Legislation.
Overnight Rate. For any day, as to Revolving Credit Loans denominated in Dollars, the weighted average interest rate paid by the Agent for federal funds acquired by the Agent.